50 U.S.C. § 3974 — Policies entitled to protection and lapse of policies

(a) Determination. The Secretary of Veterans Affairs must determine whether a policy^* is entitled to protection under this subchapter and must notify the insured^* and the insurer^* of that determination.
(b) Lapse protection. A policy that the Secretary determines is entitled to protection under this subchapter may not lapse, otherwise terminate, or be forfeited because of nonpayment of a premium^*, or of interest or indebtedness on a premium, after the date the Secretary receives the application for protection.
(c) Time application. The protection provided by this subchapter applies during the insured’s military service^* and for two years afterward.